Garson Gold Corp
|
SYMBOL: TSX-V.GG Website: www.garsongold.ca/s/Home_KitcoCasey.asp Corporate Contact Information Phone: 604-484-2161 Email: mhohn@garsongold.ca |
|
Company News (Jul 24, 2008) GARSON GOLD CLOSES THIRD TRANCHE OF NON-BROKERED PRIVATE PLACEMENT NI 43-101 TECHNICAL REPORT FILED ...Read More
Overview
Garson Gold Corp. owns a 100% interest in the New Britannia Mine (NBM) and mill located in Snow Lake, Manitoba. The NBM assets include the New Britannia Mine, with associated plant, infrastructure and equipment including a fully permitted 2,150 tonne per day modern mill and tailings facility. The NBM property consists of approximately 3,900 hectares of mineral claims and leases containing measured, indicated and inferred resources at the main mine and more than one satellite deposit, as well as newly discovered mineralization, many known gold showings and a very high potential for further discoveries.
People
Edward Stringer
Chairman & Director
Since 1983, Mr. Stringer has been the sole owner and President of Stringer Explorations Ltd., a private company which is involved in managing mineral exploration programs. From 1987 to 1991 Mr. Stringer was President of Rainbow Exploration Corp. which was a public mineral exploration company listed on the Alberta Stock Exchange. Subsequently, the company was merged into the Rainbow Group of Companies listed on the TSX Venture Exchange. Mr. Stringer was also President of C.S.W. Ventures Corp. from 2000 to 2001, a Capital Pool Company which completed a qualifying transaction in August 2001 and is now Direct I.T. Canada Inc., trading on the TSX Venture Exchange. Mr. Stringer is an original shareholder of Tri-Energy Inc., subsequently amalgamated to form Garson Resources. Mr. Stringer will be responsible for the supervision of all exploration programs carried out by the Company and evaluate properties for potential acquisition.
David Tafel
President & Director
Mr. Tafel contributes 20 years of corporate management, strategic planning, administration and financial services experience to the Garson Gold team. Mr. Tafel has managed private investment funds as an investment advisor for a major Canadian investment firm, and is currently President of a corporate advisory services firm offering strategic planning services and administrative guidance for emerging public corporations. Member of the Audit Committee. Mr. Tafel is also a VP & director of MBMI Resources Inc.
Ken Cawkell
Secretary & Director
Mr. Cawkell is member of the Alberta and British Columbia Bar Associations and has over 25 years of experience in both public and private venture capital markets. He co-founded Cawkell Brodie Glaister LLP Business Lawyers in 1987, where he acts as a managing partner. Throughout his career, Mr. Cawkell has veen extensively involved in all aspects of corporate structuring, finance and securities law. He is an investor in and founder of a number of private companies where he has held executive management positions, and currently sits on the board of a number of private and public companies. He is a member of the Securities Law Advisory Committee to the BC Securities Commission. Member of the Audit Committee
Dr. James M. Patterson
Ph.D, P.Geo., Director*
Dr. Patterson is an Independent Geological Consultant, Oct 2001 to August 2006 - Initially Consultant from April 2002 to May 2005, Vice President Exploration, and from August 2006 to May 2005 Executive Consultant and Vice-President FNX Mining Company Inc., Toronto, Ontario. He is a consultant, Director and VP Exploration of Merrex Gold Inc., International Millennium Mining Corp. and Luzon Minerals Ltd.
Jamie Lavigne
M.Sc., P.Geol., Vice President Exploration*
Mr. Lavigne has 20 years of experience in all phases of gold and base metal exploration across Canada, including GIS-based data compilation, geologic modeling and resource and reserve estimations. He has a BSc (Geology) from Memorial University of Newfoundland and a MSc. (Geology) from University of Ottawa. Mr. Lavigne was a Senior Geologist with FNX Mining Company Inc. in Sudbury, a Senior Geologist with WMC International Ltd. and a geologist with the Geological Survey of Canada. He is a professional geologist (P.Geo.) licensed by the Professional Association of Engineers, Geologists and Geophysicists of the Northwest Territories (NAPEGG).
Adrian Rothwell
CA, Chief Financial Officer
Mr. Rothwell has been providing financial consulting, management and controllership services to the mining industry since 1995. He has previously acted as a financial consultant to a number of other publicly-traded companies. As a Chartered Accountant he offers many years of professional accounting, public practice, and industry specific expertise. Mr. Rothwell is a member of the Institute of Chartered Accountants of British Columbia, Canada and the Institute of Chartered Accountants of Australia.
Michelle Hohn
VP Corporate Communications
Ms. Hohn possesses an extensive background in corporate, financial and marketing communications within the investment industry. She contributes over 17 years of related business experience to Garson Gold which includes 12 years of investor relations and corporate communications experience, holding manager and VP positions for a number of private and public (TSX, TSX Venture and AIM listed) companies, primarily focused on mining exploration. Prior to specializing in corporate communications, Michelle worked at several national brokerage firms in positions including investment advisor, as well as specialized assignments in product development, marketing and national training. Michelle has a BA from Simon Fraser University, is a member of CIRI, IABC, and is currently working towards an MA in Professional Communication through Royal Roads University.
ADVISORY BOARD
David Constable
P.Geo, MBA
Mr. Constable is a professional geologist with more than 25 years Canadian and international exploration and development experience with the Noranda Group, Ontario Ministry of Northern Development and Mines and managing his own geological consulting firm for a decade. Since 1996, he has provided investor relations services to offshore and domestic mining companies. From 1997 -- 2002 he served as Vice President Investor Relations for Normandy Mining Limited of Australia until their 2002 takeover by Newmont. He served as Vice President Investor Relations and Corporate Affairs with FNX Mining Company Inc. from June 2002 to October 2005. Mr. Constable is a member of the Canadian Investor Relations Institute (CIRI) and an experienced director of junior companies listed on the TSX and TSX Venture Exchanges. Mr. Constable returned to FNX Mining Company Inc. in 2006 as Vice President Investor Relations and Corporate Secretary. Mr. Constable is the VP of FNX Mining, and former VP of Normandy Mining. David received his BSc (Hons.) Geology from Mount Allison University and MBA(Hons.) from Laurentian University
Pamela Strand
M.Sc., P.Geol. *
Ms. Strand has been in the exploration and mining industry as a geologist since 1988. Her positions have included District Geologist for the Department of Indian Affairs and Northern Development, and as exploration geologist for Miramar Mining Corporation, Homestake Mineral and Development and Noble Peak Resources Ltd. Ms. Strand was also Vice President, Corporate Development for Pinnacle Resources (1996) Ltd., a mineral property broker, for two years.
Ms. Strand is currently the President & CEO of Shear Minerals Ltd. and a Director of both Firestone Ventures Inc. and Grizzly Diamond Ltd. She is a Professional Geologist with APEGGA and NAPEGG and is a Director of the NWT and Nunavut Chamber of Mines. Ms. Strand received a B.Sc. from the University of Toronto and, M.Sc. in Economic Geology from the University of Western Ontario. Member of the Audit Committee.
Dr. Charles C. Hawley
CPG *
Dr. Hawley is a Certified Professional Geologist with more than fifty years experience in economic geology. Dr. Hawley is the founder of Mines Trust Company, a property holding company. He is a member and Emeritus Director of the Alaska Miners Association having served as President, Director, and Executive Director of the Anchorage Branch. He was a founding director of the Citizens for Alaska Lands and the Alaska Mining Hall of Fame. His publications include U.S. Geological Survey Bulletins and Professional Papers, articles, speeches, consulting reports, and novel-length biographies of mining personalities nominated for the Alaska Mining Hall of Fame. Dr. Hawley received his Ph. D. in geology at the University of Colorado.
* Is a Qualified Person under National Instrument 43-101
Property
THE NEW BRITANNIA MINE
Garson Gold Corp. owns a 100% interest in the New Britannia Mine (NBM) and mill located in Snow Lake, Manitoba. The NBM assets include the New Britannia Mine, with associated plant, infrastructure and equipment including a fully permitted 2,150 tonne per day modern mill and tailings facility. The NBM property consists of approximately 3,900 hectares of mineral claims and leases containing many known gold showings and a very high potential for new discoveries.
;) |
| click to enlarge |
A measured and indicated mineral resource of 364,000 ounces of gold (2,211,000 tonnes at 5.11 g/t) for the main mine area and inferred mineral resource of 176,000 ounces of gold (1,094,000 tonnes at 5.01 g/t) for the total property were estimated in a NI 43-101 report by Micon International in October of 2006.
Mineral Resource Estimate on the NBM Property |
|||
MEASURED & INDICATED RESOURCES |
|||
Deposit/Zone |
Tonnage |
Grade |
Gold |
Main Mine (Measured) 1 |
79,000 |
4.77 |
12,000 |
Main Mine (Indicated) 1 |
2,132,000 |
5.14 |
352,000 |
TOTAL |
2,211,000 |
5.11 |
364,000 |
INFERRED RESOURCES |
|||
Deposit/Zone |
Tonnage |
Grade |
Gold |
Main Mine 1 |
305,000 |
4.59 |
45,000 |
No. 3 Zone 1 |
220,000 |
7.10 |
50,000 |
Birch Zone 1 |
569,000 |
4.42 |
81,000 |
TOTAL |
1,094,000 |
5.01 |
176,000 |
- NI 43-101 Technical report on the New Britannia Mine Property and Review of the Mineral Resource Estimate, Snow Lake Manitoba. Completed for Garson Resources, Pegasus Mine Ltd, and Piper Capital Inc. by William J. (Bill) Lewis, P. Geo and Richard Gowans, P. Eng., Micon International Ltd., October 2006.
- The resources at the New Britannia Mine have been estimated using a combination of sectional polygonal and geostatistcal block model methods
- In-situ resources are defined based on a seven foot minimum horizontal width and a minimum cut-off grade of 3.33 g/t (.097 oz/ton) Au
- This estimation was based on a gold price of $400 US/oz, an exchange rate of $1.25 CDN to $1.0 US, an operating cost/ton of $44.92 Cdn, and a mill recovery of 93%
- The Company is not aware of any envirnomental, permitting, legal, title, taxation, socio-political, marketing or other issue that may materially affect its estimate of mineral resources
- Mineral resources which are not mineral reserves do not have demonstrated economic viability
The Squall Lake Property (contiguous with the NBM property and 100% owned by Garson) also hosts an additional inferred resource of 75,000 ounces of gold (100,000 tonnes at 4.85 g/t in the upper zone and 337,000 tonnes at 5.4 g/t in the lower zone). (Beilhartz April 2006)
The No. 3 Zone
The No. 3 Zone is a satellite deposit containing a 43-101 inferred resource of 50,000 ounces of gold (220,000 tonnes at an average grade of 7.10 g/t as per above). Past gold production from the No. 3 Zone totaled approximately 30,000 ounces of gold (219,000 tonnes at an average grade of 4.32 g/t). Diamond drilling at the No. 3 Zone is ongoing and is designed to continue to confirm and expand known mineralization and infill selected areas of the inferred resource in the upper part of the No. 3 Main Zone.
;) |
| click to enlarge |
Ongoing Advanced Exploration
Garson Gold is currently engaged in an extensive program of diamond drilling and resource evaluation on the NBM Property, which includes the exploration of a prospective north-northwest trending corridor that encompasses the New Britannia Main Mine, the Boundary Zone, and the No. 3 Zone. The drilling results to date confirm the potential for new discoveries and resource expansion within this prospective corridor and elsewhere on the property.
;) |
| click to enlarge |
Assay results (News Release dated April 1, 2008) continue to confirm and expand the known mineralized envelopes and are summarized in Table 1 and include:
15.66 grams per tonne (g/t) gold over an intersection length of 2.90 m in diamond drill hole BDY0827 from the Upper Boundary Zone
3.47 g/t gold over an intersection length of 5.91 m in diamond drill hole BDY0825 from the Boundary Rhyolite Zone
6.37 g/t gold over an intersection length of 3.44 m in diamond drill hole ZN30851 from the No. 3 Main Zone
In December 2007, Garson announced the commencement of a scoping study to assess viable start-up and production scenarios with the objective of re-establishing gold production at the NBM Property. The scoping study will include; an estimation of capital costs required in rehabilitating the NBM mine and mill, and an updated evaluation of current resources.
History of the New Britannia Mine:
- 1949-1958: initial mine operation (Nor Acme); produced 610,548 oz.
- 1995-2004: High River and Kinross re-commenced mining to produce 822,550 oz (gold @ US$274-$409 oz)recovery rate 93%.
- Total historic production from main mine, 3 Zone and Birch open pit: 12,147,163 tons Grading 4.23 gpt totaling 1,443,098 oz
- Mine site put on care and maintenance January '05
- Piper Capital Inc. & Garson Resources Ltd. acquired 100% interest in December 2006.
- arson Gold Corp. (formed through the amalgamation of Piper Capital and Garson Resources in June 2007) owns 100% of the New Britannia Mine
COPPER PRINCE
The 100% owned Copper Prince property is a Gold-Copper project comprised of a contiguous block of 16 patented mining claims, encompassing approximately 260 hectares located in Falconbridge Township within the greater city of Sudbury, Ontario. The project lies in the Huronian Gold Belt - a zone of past gold producers that extends from NE of the Sudbury Basin to the SW, south of the town of Espanola, a distance of approximately 120 kilometers (km).
The claims immediately to the north and west of Copper Prince are owned by FNX Mining-Falconbridge Ltd. and are being explored by FNX Mining Company Inc. for footwall type Ni-Cu-PGM deposits. Falconbridge is exploring their Nickel Rim deposit further to the north with plans to go into production in the near future. The Falconbridge smelter is located approximately two km to the north of the Copper Prince boundary. To the immediate east of the Copper Prince property lies the Falcon Gold Property which is owned by Kinross Gold Corp. The Manchester Offset Dyke (a Ni-Cu-PGM deposit) that belongs to Inco Ltd. is about a half a kilometer south of the Copper Prince southern boundary.
MCMILLAN GOLD MINE PROPERTY
The McMillan claims comprise 34 unpatented mining claim units in Mongowin and McKinnon townships, located approximately 14 kilometres south of the town of Espanola, Ontario on the north shore of House Lake.
Gold was first discovered on the McMillan property in the early 1920's. Shaft sinking and underground exploration were carried out in the late 1920's, with the shaft reaching 900 feet in depth. A 125 ton per day mill was subsequently built and operated until 1937. The mine produced 60,000 tons of ore at a recovered grade of 0.18 ounces per ton. Historical records indicate that mineralization continued below the 900 foot level, but a grade of 0.20 ounces per ton was considered uneconomic at that time. In 1985/86 the mine was dewatered and sampled underground. Sampling from different underground stopes ranged from 0.07 ounces per ton to 0.48 ounces per ton.
Garson entered into an option agreement in 2004 with Young-Shannon Gold Mines, Limited which enables Young-Shannon to earn a 50% interest in the McMillan property over a three year period for staged payments of $75,000 in cash and 650,000 common shares plus a three year work commitment of $900,000. Young-Shannon has the option to increase its interest to 60% by issuing an additional 250,000 common shares and spending $400,000 more on the property.
Politics
According to the Fraser Institute Survey of Mining 2006, Manitoba is currently ranked the #1 jurisdiction in the world for having the best policy environment for mining investment, and for infrastructure, political stability and security.
Garson Gold enjoys an extremely cooperative and involved relationship with the Manitoba Government.
Paper
Share Structure at May 1, 2008 |
|
Common Shares Outstanding |
103,371,328 |
Warrants |
23,595,003 |
Options |
4,589,050 |
Fully Diluted Shares Outstanding |
131,555,381 |
Click here to Request Investor Information Direct from this Company